Demonetization - Connecting the dots - Raghu Ram Rajan' Exit

There was pressure on R3 to reduce interest rate, to boost Growth, subtext being UP elections. It was widely commented then.

Similarly demonetization was discussed with him, in March 2016, as stated by the big-guns of Modi Government.

 But R3 was negative on both counts : "My name is Raghuram Rajan, and I do what I do"

Such independence of thought and action did not go well with the powers that be.  

PM' attack dogs were sent out - with absurd allegations - too absurd to deserve a response.

But R3 was hounded out : the attack dogs were rewarded.

Demonetization, 10 months in the works is and announced on 8th Nov 16, is turning out to be unmitigated disaster for mango men, while the ostensible targets are fine.

But Amit Shah will go into UP and Punjab elections with some advantage. 

Modi ji was doing many good things for the economy. Personally appreciated the Manager in him. 

He has blundered now, and we are in danger of losing him.